Monday, 16 April 2018

Vita Mojo had some spare shares

Vita Mojo raised £3.2m on Crowdcube. Now it has offered those shareholders a time sensitive share offer at the same price for £300k worth of their shares.

Vita Mojo puts a whole new meaning into laptop food. Their software allows them and you to create your own food.

The idea is new and it will be a while before we know if it works. But having raised over £3m via Crowdcube, shareholders were surprised to find an email asking them to buy more shares - an allotment that the company says was time limited and in total came to an investment of £300k. The minimum investment was set at £7,500. That time has now passed.

Quite why they would be time sensitive was not explained. One idea we had was that this could be a case of an investor/s pulling out after the campaign closed?

2 comments:

It was all a bit odd especially as in the same email they were saying things were incredibly positive and they had a good runway.

I invested a little a vitamojo as I have to admit being won over by the slick crowdcube campaign. Whilst I would obviously love it succeed their locations are all in out of the way areas where they don't get much footfall. The food is pretty good on the occasions I have been but probably not something you would go out of your way to buy. I would be amazed if their food outlets come anywhere close to breaking even.

My suspicion is that they are increasingly thinking of themselves as a software company. I would question whether their software offering is really that special and how it might fit in any event into conventional restaurants. As I see it allows you to customise your meal by specifying what you want and the quantity sizes. Not as groundbreaking as they think it is and I wonder how many other businesses will pay for a licence to use it (or just develop their own if needed).